Multi-period and Multi-product Inventory Management Model with Lateral Transshipments

2015 ◽  
pp. 425-444 ◽  
Author(s):  
Joaquim Jorge Vicente ◽  
Susana Relvas ◽  
Ana Paula Barbosa Póvoa
Keyword(s):  
Inventory Management ◽  
Management Model ◽  
Product Inventory

APPLICATION OF PERIODIC REVIEW INVENTORIES MODEL IN A TYPICAL MEXICAN FOOD COMPANY

2021 ◽  
Vol 8 (1) ◽  
pp. 27-36
Author(s):  
Ramsés Cabrera-Gala ◽  
Luis Carreón-Nava ◽  
Hugo Valencia-Cuevas ◽  
León Rivera-Sosa
Keyword(s):  
Inventory Management ◽  
Management Model ◽  
Periodic Review ◽  
Food Company ◽  
Periodic Model ◽  
Santa Monica ◽  
Typical Food ◽  
The One ◽  
The City ◽  
Optimal Quantity

The Mexican family companies must face the challenges of market volatility with greater recurrence, forcing them to use effective tools and models for the proper management of their organizations and inherent activities, such as inventory management. Therefore, this research was carried out at “Moles Santa Monica”, a typical food company located in the city of Puebla, Mexico. This enterprise has reflected a high variability in the administration of its inventories, with a Coefficient of Variation (CV) greater than 0.2 in most of their portfolio products. In this way, the objective of this study was to propose an inventory management model that might reduce the shortages and overstock, and also; improves its performance and profitability when it is managed. The applied methods were Pareto and ABC model to choose correctly the best seller company products. The inventory management model chosen was the periodic review (R, S) as well, for being the most effective and the one that best suited the circumstances of the company in question. Three of the portfolio products were studied (MPP10, MPC10 and COP10) due to they are the most representative in incomes and valuables for the company managers. The results allowed us to propose the review periodic model (R), the optimal quantity of units to produce (Q), the safety stock (Ss) and the maximum inventory (S) for each product. We conclude that this model will help the company to face the uncertainty of the demand. Finally, we include limitations and future studies.

scholarly journals Application of ABC and XYZ Analysis to Inventory Optimization at a Commercial Enterprise

2020 ◽  
Vol 80 ◽  
pp. 01007
Author(s):  
T G Trubchenko ◽  
E S Kiseleva ◽  
M. A. Loshchilova ◽  
A N Dreval ◽  
T G Ryzhakina ◽  
...  
Keyword(s):  
Inventory Management ◽  
Consumer Demand ◽  
Management Model ◽  
Relevant Issue ◽  
Maintenance Costs ◽  
Inventory Optimization ◽  
Commercial Enterprise

Inventory management at an enterprise is the essential logistics function. Reducing inventory maintenance costs and optimizing the range of goods while focusing on consumer demand analy-sis are inextricably linked to inventory management methods. This article describes the differentiated inventory management model of the ABC-XYZ classification matrix in relation to the inven-tory of Karandash LLC commercial enterprise (Tomsk). Inventory management is a highly relevant issue, since the company has several branches, cooperates with many suppliers, and its range of office supplies includes more than 30 000 items. The ABC-XYZanalysis of the inventory of this commercial enterprise allowed us to determine strategies for optimizing inventory and to identify the groups that should be removed from the range, and, vice versa, should be available in stock due to constant demand.

Inventory management model in a butcher shop

2015 ◽  
pp. 30-51 ◽  
Author(s):  
Andrés Ordoñez Castano ◽  
Juan Pablo Orejuela Cabrera ◽  
Juan José Bravo
Keyword(s):  
Inventory Management ◽  
Management Model ◽  
Butcher Shop

scholarly journals Purchase Recommendation and Product Inventory Management using Content Based Filtering with Sequential Pattern Mining Approach

2018 ◽  
pp. 287-294
Author(s):  
Aditya Cipta Raharja ◽  
Imas Sukaesih Sitanggang ◽  
Agus Buono
Keyword(s):  
Inventory Management ◽  
Pattern Mining ◽  
Sequential Pattern Mining ◽  
Sequential Pattern ◽  
Children's Book ◽  
Long Time ◽  
Product Sales ◽  
Product Inventory ◽  
Content Based Filtering ◽  
High Chance

Today, the product sales at XYZ Bookstore are increase in accordance to the trend in society. In that case, high sales must be supported by good supply and on target. Product sold based on needs of consumers will make possibility to achieve high sales. Using the Sequential Pattern Mining approach, we can specify sales patterns of products in relation to another products. SPADE (Sequential Pattern Discovery using Equivalence classes) is an algorithm that can be used to find sequential patterns in a large database. This algorithm finds frequent sequences of the sales transaction data using database vertical and join process of the sequence. The results of SPADE algorithm is frequent sequences which are used to form the rules. Those can be used as predictors of other items that will be purchased by consumers in the future. The result of this study is a lot of unique sequence appears that can provide the best advice for Merchandiser Officer, for example, there are 1.468 sequences that prove the customer who bought the product in Children’s Book category will always bought the same thing in the others day. This research produce some recommendation, one of the recommendation is Children's Book category has a very high chance of being a Best Seller for a long time so that the purchasing officer on XYZ bookstore should ensure that the product's supply of the category is always safe throughout the year. It means SPADE is successfully used to provide the advice and Merchandiser Officer must ensure the stock of that product is always available to avoid Lost Sales.

scholarly journals Dynamics Analysis and Fractional-Order Approximate Entropy of Nonlinear Inventory Management Systems

2021 ◽  
Vol 2021 ◽  
pp. 1-8
Author(s):  
Tengfei Lei ◽  
Rita Yi Man Li ◽  
Haiyan Fu
Keyword(s):  
Lyapunov Exponent ◽  
Inventory Management ◽  
Approximate Entropy ◽  
Human Action ◽  
Management Model ◽  
Management Systems ◽  
Largest Lyapunov Exponent ◽  
Complex Nonlinear Systems ◽  
Definition Of ◽  
Special Circumstances

Inventory management is complex nonlinear systems that are affected by various external factors, including course human action and policy. We study the inventory management model under special circumstances and analyse the equilibrium point of the system. The dynamics of the system is analysed by means of the eigenvalue trajectory, bifurcations, chaotic attractor, and largest Lyapunov exponent diagram. At the same time, according to the definition of fractional calculus, the fractional approximate entropy is used to analyse the system, and the results are consistent with those of the largest Lyapunov exponent diagram, which shows the effectiveness of this method.

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